MTO anticipates awarding matching grants of up to $7,500 each for companies that qualify for the grants to participate in international trade missions, trade shows and other export development activities.
Services available to companies that receive state-funded grants include: export training designed to help new or occasional exporters develop an export strategy; mission fees for participation in foreign trade missions; space rental for trade show exhibition; matchmaking, Gold Key and Market builder services offered by the U.S. Commercial Service, Food Export or similar private organizations; design of international marketing products or campaigns; foreign language translation of websites; overseas sales trips; technical services to make modifications to products to meet foreign standards, certifications, or regulatory requirements for export (such as CE-marking) and export training designed to help new or occasional exporters develop an export strategy.
To be eligible for STEP grants, companies must fit the SBA definition of a small business, based on annual sales or number of employees, and
- Have been in operation for at least one year
- Be operating profitably, based on U.S. operations
- Have an understanding of the costs associated with exporting
- Have a strategic plan for exporting
- Have products and services appropriate for the target market
MTO can assist with creating strategic plans for exporting to get your company on its way. In today’s global marketplace, we are proud to help our small business community reach key foreign markets to increase exports. For more information about the STEP grant, go to: http://mn.gov/deed/business/exporting/export-financing/